Solving Today’s Procurement Puzzle: Saving Money By Spending More

We all want to conserve working capital by extending payments. But sometimes it pays – literally – to pay your suppliers on favorable terms.

Conventional wisdom holds that the longer you can stretch out payment terms to your suppliers, the better your cash flow. But, sometimes, conventional wisdom is wrong. New, non-bank payment instruments like virtual card payments may revolutionize the way we pay our vendors and earn rebates that go to the bottom line. Sometimes, you can save money while spending more.

In this special webcast, Mark Trowbridge, a principal with Strategic Procurement Solutions LLC and a frequent contributor to Supply Chain Management Review, will walk attendees through five innovative methods to capture cash management advantages that enhance company liquidity and reduce overall costs. Topics will include:

The investigative work required to strategically leverage payment timing and processes…

• How to earn rebates on “retail like” B2B transactions…
• How to use virtual card payments, or vCards, an innovative new payment technology…
• How to evaluate which payment term discounts are actually being captured and take steps necessary to ensure capture…
• And, how to leverage supplier payment timing to hold cash the optimal time, move suppliers toward vCard settlement processes, and non-participating suppliers toward discounted payment terms.

This event is designed for every procurement professional looking to optimize their supplier payment terms.

Sponsored by:

Moderator: Bob Trebilcock, Editorial Director
Recording Date: June 24, 2021
Panelists: Mark Trowbridge, CPSM, C.P.M., MCIPS, Principal, Strategic Procurement Solutions, LLC

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